The melting points of different types of cosmetic waxes vary depending on their unique composition and chain lengths. Beeswax, candelilla, carnauba and polyethylene waxes are some of the widely used waxes in cosmetic formulations. They provide structure to sticks formulations like lipsticks and balms, barrier function to balms and creams and add thickening and waterproofing qualities to mascara among its various functional benefits. They are among a range of diverse organic compounds that serve wide ranging functions in cosmetic formulations like enhancing the texture of the product, thickening it, impart sun protection features, and improve longevity of wear of the product.
Cosmetic Wax Market Outlook
- The consumption of cosmetic wax has been witnessing a surge in the recent years. This is in line with the growing demand for the key end products like personal care and cosmetics, thus covering a wide range including most consumer goods. This is indicative of the diversity of the product and is a key factor driving its growth.
- Growing consumer interest in products with natural ingredients as well as awareness about its health benefits would drive growth in the market. Likewise, a growing body of evidence suggests the harmful effects of chemicals widely present in a large number of regular use products has on the body. This has driven consumers to opt for products with natural ingredients like naturally derived cosmetic wax products.
Cosmetic Wax Market Regional Highlights
- North America and Europe together account for a major share of the cosmetic wax market in 2019. This is owing to a mature consumer base with awareness about the various types of products available on the market.
- The developing regions in Asia Pacific and Latin America are witnessing a phase of economic expansion. This has consequent effects on the disposable income as well as the number of working people as a proportion of the whole population. This interaction of demographic and economic factors would result in attractive opportunities for the key players of the cosmetic wax market over the forecast period from 2020 to 2026 as they can cash in on the rise in demand for cosmetic products among others.
Cosmetic Wax Market Segmental Highlights
- Natural and synthetic are the key sources of cosmetic wax products. Synthetic wax products like paraffin and microcrystalline wax are petroleum derived and are hence synthetic with regard to their source.
- Beeswax, candelilla, and carnauba are among the popular cosmetic waxes used. Beeswax has hydrating, calming, protective, and regenerative properties. It is a naturally made wax by the worker bees who usually discard them in the bee-hives. Likewise, candelilla wax has protective and smoothening effects on the skin.
- Cosmetic waxes are used for imparting various functional effects to the products such as thickening, molding and others. They are also used to give a structure to certain products like lipsticks and other stick based formulations among others.
Cosmetic Wax Market Key Players
The major companies operating in the cosmetic wax market include Apiário Polenectar, APIS FLORA, Clariant, Comvita, Dow, Evergreen Cosmetic & Family Dentistry, King's Gel, MN Própolis, SUNYATA PON LEE, and Wax Green among others.
The key players in the cosmetic wax market are keeping their ears to the ground so as to not miss out on any upcoming market developments. Keeping a pulse of the rapidly changing consumer behavior would benefit the makers and would enable them to stay ahead of the curve to obtain a competitive edge in a dynamic market. In this regard, new product development and adopting sustainable manufacturing practices is a leading strategy being adopted by the manufacturers given the nature of the market.
